Category: oil-&-gas
India’s natural gas use target hinges on higher gas-fired power generation
India’s goal to increase the share of natural gas in its energy mix to 15% by 2030 faces challenges due to high global LNG prices. Lower gas prices are essential for making gas-fired electricity generation competitive, which is crucial for boosting demand. Limited infrastructure and high logistical costs further constrain natural gas consumption.
Bharat Petroleum signs agreement with TotalEnergies Trading Asia for Middle Eastern crude supply
Bharat Petroleum Corporation Limited (BPCL) signed a one-year strategic contract with TotalEnergies Trading Asia for the supply of Middle Eastern crude oil from April 2025 to March 2026. The agreement ensures a steady and competitive supply for BPCL’s refineries, enhancing energy security and diversifying its crude sourcing portfolio.
Oil prices fall on potential Ukraine peace talks
Oil prices dropped by 1% on Thursday, influenced by potential peace talks between Russia and Ukraine and rising crude inventories in the U.S. Brent futures and WTI crude saw significant declines. Analysts attribute the decrease to increased expectations of sufficient supply and higher U.S. crude stocks.
Adani Total Dhamra LNG terminal expansion not imminent, CEO says
Adani Total has not yet conducted feasibility studies for expanding its LNG terminal in Dhamra. The terminal’s utilisation rate increased from 25% to about 50% in 2024. Expansion is dependent on demand, which could grow with India’s aim to double natural gas usage in its energy mix by 2030.
IOC signs USD 7-9 bn long-term LNG import deal with UAE firm
Indian Oil Corporation (IOC) has entered into a 14-year deal, valued at USD 7-9 billion, with ADNOC Gas from UAE for the long-term import of LNG, beginning in 2026. This aligns with India’s goal to increase the share of gas in its primary energy mix to 15% by 2030.
India says Russian oil suppliers must provide sanctions-compliant cargoes
India, the world’s third-largest oil importer, seeks Russian crude oil compliant with U.S. sanctions. Despite buying discounted seaborne oil from Russia, India’s refiners are cautious due to exposure to the U.S. financial system. Indian officials emphasize that suppliers must ensure compliance with their internal regulations to avoid operational challenges and risks associated with secondary sanctions.
Adani to withdraw from Sri Lanka wind power projects, open for future deals
Adani Green Energy announced its decision to withdraw from two planned wind power projects in Sri Lanka. The decision was made after the Sri Lankan government suggested renegotiating the project proposal terms. The company emphasized its respect for Sri Lanka’s sovereign rights. The projects were initially valued at $1 billion.
GAIL to exit US shale venture
GAIL (India) Ltd has floated a tender to sell its 20 per cent interest in Eagle Ford Shale Assets in Texas by February 14, 2025. This decision follows a lack of profitability due to low gas prices and changing partnerships in the venture.
Adani Total Gas to invest Rs 16,000 crore in CNG, LNG infra expansion over 7 years
Adani Total Gas Ltd (ATGL) plans to invest ₹16,000 crore over the next seven years to expand its CNG station and pipeline network in India. Additionally, the company is expanding its EV charging infrastructure and has ventured into the LNG for transport and mining sector.
BPCL inks crude purchase pact with Brazil’s Petrobras
Bharat Petroleum Corporation Ltd (BPCL) has entered an annual crude purchase agreement with Brazil’s Petrobras, which includes a possible extension for another year. Additionally, Petrobras has signed preliminary agreements with ONGC Videsh and Oil India to jointly explore India’s deep and ultra-deep offshore regions. These agreements focus on exploration, production, and decarbonization opportunities.
